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Other sectors are also being progressively highlighted to advance the country's decarbonization objectives following the 28th Conference of the Parties (COP28). Low-carbon technologies, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to build a more varied and sustainable economy, lowering dependence on imported products while also producing tasks for both nationals and homeowners.
As one of the world's top 20 economies, the UAE has protected a leading position in foreign direct financial investment (FDI) inflows within the region. The World Investment Report 2024 by the United Nations Conference on Trade and Advancement reported that FDI streams into the UAE reached roughly US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, putting the UAE second worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new companies, marking its finest first quarter in over 20 years, with considerable registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's overall variety of business surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports nearly 800 production companies with customized infrastructure, outstanding logistics, and over 100 tailored jobs.
Improving Business Dexterity Through Gulf Shared Service CentersIts tactical area at the crossroads of Europe, Asia, and Africa, uses smooth connectivity to worldwide markets, which enables efficient distribution of products to a vast array of customers and end-users. Further, the UAE's strong logistics and infrastructure, absence of trade sanctions, and a growing variety of open market contracts with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive location for establishing manufacturing bases.
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